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A retail outlet has its own production facility for producing denim cloth. The ordering cost ($150) is the cost of setting up the production process to make the denim cloth. The carrying cost is $0.75 per yard and the demand is 10,000 yards per year. The production facility operates the same days as the retail store is open (i.e. 311 days) and produces 150 yards of the denim cloth per day. Determine:
a) The optimal order size
b) The total inventory cost
c) The length of time to receive an order
d) The number of orders per year
e) The maximum inventory level
Tahiti Manufacturing recently purchased a new machine. The maintenance contractor recommended that this model should receive maintenance every 3,000 - 6,000 hours of operation. If
Complete the below table. Which one of these techniques would you recommend to use and indicate your rationale? Technique Ave Bias Ave MAD MSE Ave MAPE Naïve
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Answer the following questions on the Topic of Forms of Business Ownership 1. Describe the three forms of ownership. Describe two advantages and two disadvantages of each. 2.
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What are the advantages and disadvantages of full-factorial design over one-factor-at-a-time experimentation?
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